Bwin Compromises on the Issue of Board Changes

On Wednesday Bwin.Party and American investor Jason Ader's SpringOwl Investments managed to compromise regarding board changes that will see Manfred Bodner, Rod Perry and Helmut Kern step down.

In a statement from Bwin, chairman-elect Philip Yea said: "There remains much work ahead and, together with the rest of the Board, I look forward to working closely with SpringOwl as a significant shareholder in bwin.party and welcome Dan Silvers to the Board as SpringOwl’s appointed nominee.”

Jason Ader said: “Bwin.party is a business with great brands and enormous potential. We welcome the planned changes to the composition of the Board announced last week and are looking forward to working with Philip Yea and the Board over the coming period to ensure that this potential is both realised and translated into long-term value for shareholders.”

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